StockMarketWire.com - Africa-focused oil company Tower Resources said it expected a first payment associated with a sale of stake in the Thali prospect offshore Cameroon to be made in late July or early August.

The payment, to be made into escrow, was associated with a binding heads of terms singed in February with OilLR.

Tower said while the new expected payment date was later than originally planned due to factors arising from the Covid-19 pandemic, both parties remained committed to completing the transaction.

The backstop date for completion had amended to 15 September, and both parties hoped to have all funds in escrow well before that date, Tower said.


At 2:33pm: [LON:TRP] Tower Resources PLC share price was -0.03p at 0.33p



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